Aster Price Prediction: Community Rage Over “Disappointing” Airdrop As Aster Falls 20% To $1.55 – Is This The Bottom?
- ASTER price prediction scenarios turned bearish as the token plunged over 20% to $1.55 following widespread community outrage over Stage 2 airdrop allocations.
- ASTER Stage 2 airdrop distribution sparked community fury with users reporting dramatically lower allocations than expected.
- A user earning 15 million points through over $10 million volume and $2,830 in fees received 2,245 ASTER worth approximately $3,600.
- The allocation represented only $800 profit after expenses, prompting comparisons to competing DEX airdrops deemed far more generous.
What Happened
The announcement delayed the ASTER airdrop to October 20, with users receiving 48 hours after allocation updates to select the USDT refund option.
Blockchain investigator ZachXBT also criticized the normalization of wash trading after industry figure Anndy Lian argued all crypto projects engage in such activity.
Market Context
ASTER price prediction scenarios turned bearish as the token plunged over 20% to $1.55 following widespread community outrage over Stage 2 airdrop allocations.
Users with millions in trading volume and substantial fees paid received rewards worth mere hundreds of dollars, triggering accusations of insider manipulation and unfair distribution.
The decline began after DeFiLlama removed Aster’s volume data on October 6 due to suspected wash trading, citing a 1:1 correlation with Binance perpetuals across multiple pairs.
Airdrop Backlash and Wash Trading Allegations Trigger Selloff
One trader with $2 million perpetuals volume received approximately $100 worth of tokens, while another generating $100 million in referral volume earned just 338 ASTER tokens.
A user earning 15 million points through over $10 million volume and $2,830 in fees received 2,245 ASTER worth approximately $3,600. The allocation represented only $800 profit after expenses, prompting comparisons to competing DEX airdrops deemed far more generous.
Claims emerged that wash traders and insiders captured the majority of allocations while genuine users received minimal rewards despite substantial platform engagement. One detailed account compared two wallets showing 5.64 million points from real trading received 85 tokens, while 4.53 million points from bot activity received 275 tokens.
The disparity fueled accusations of insider distribution, contradicting promises to discourage wash trading. Hours after widespread backlash, the Aster team acknowledged potential data inconsistencies affecting allocations.
Earlier this week, DeFiLlama removed Aster’s perpetual futures volume data after detecting correlation ratios approaching 1:1 with Binance across XRP/USDT and other pairs.
Co-founder 0xngmi cited data integrity concerns, noting Hyperliquid showed decorrelation while Aster volumes mirrored Binance nearly perfectly. The platform lacks access to maker-taker data needed to verify whether wash trading occurred.
In the last 24 hours, the Dune Analytics dashboard revealed $2.3 trillion total trading volume, $1.43 billion TVL, 3.24 million users, and $254 million all-time income.
ASTER’s 4-hour chart positions price at $1.56 with a 7.21% decline, testing key support following breakdown from $2.34 highs.
Why It Matters
ASTER Stage 2 airdrop distribution sparked community fury with users reporting dramatically lower allocations than expected.
Current positioning near $1.50-$1.56 support is a make-or-break level for maintaining the previous uptrend structure. Breaks below this zone could trigger accelerated decline toward $1.29-$1.50 red zone as selling pressure intensifies.
Details
Technical analysis reveals ASTER testing key $1.50-$1.56 support within a symmetrical triangle pattern, while 153,932 qualified wallets prepare to claim tokens amid ongoing allegations.
Community members accused the Aster team of diluting shares by 50% before epoch 3 ended without fixing the issue.
The team stated most users’ allocations should not fall below the final snapshot RH% in each epoch, promising to review and update where needed within the coming days.
Fee refunds will occur one day after token distribution for users choosing refunds over tokens.
Correlation patterns appeared even more extreme for ETH and other assets, prompting temporary delisting until verification becomes possible.
The platform added 20,195 new users in 24 hours despite controversy.
Triangle Apex Testing Coincides With Maximum Pessimism
Multiple resistance levels at $1.74, $1.97, and $2.12 mark failed bounce attempts, creating a descending pattern indicating distribution.